BULZ vs. SBIT

Last updated Jul 14, 2026

BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - BULZ is a Leveraged Equities fund tracking the Solactive FANG Innovation Index (300%), while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, BULZ returned 98.38% vs 124.12% for SBIT. At a correlation of -0.45, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

BULZ vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BULZ achieves a 38.16% return, which is significantly lower than SBIT's 44.00% return.

BULZ

• 1D: -7.41%
• 1M: -10.84%
• 6M: 28.00%
• YTD: 38.16%
• 1Y: 98.38%
• 3Y*: 65.65%
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BULZ vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	38.16%	60.09%	14.76%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between BULZ and SBIT is -0.53, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.53
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.45

The correlation between BULZ and SBIT has been stable across timeframes, ranging from -0.53 to -0.45 - a consistent structural relationship.

Return for Risk

BULZ vs. SBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BULZ

BULZ Risk / Return Rank: 42
BULZ Sharpe Ratio Rank: 43
BULZ Sortino Ratio Rank: 43
BULZ Omega Ratio Rank: 44
BULZ Calmar Ratio Rank: 45
BULZ Martin Ratio Rank: 37

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BULZ vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) and Proshares Ultrashort Bitcoin ETF (SBIT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BULZ	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.41	-0.19
Sortino ratio: Return per unit of downside risk	1.80	2.05	-0.26
Omega ratio: Gain probability vs. loss probability	1.23	1.25	-0.02
Calmar ratio: Return relative to maximum drawdown	1.82	2.60	-0.78
Martin ratio: Return relative to average drawdown	4.44	5.92	-1.49

BULZ vs. SBIT - Sharpe Ratio Comparison

The current BULZ Sharpe Ratio is 1.22, which is comparable to the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of BULZ and SBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BULZ vs. SBIT - Drawdown Comparison

The maximum BULZ drawdown since its inception was -94.44%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for BULZ and SBIT.

Drawdown Indicators

	BULZ	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-91.35%	-3.09%
Max Drawdown (1Y) Largest decline over 1 year	-54.22%	-47.94%	-6.28%
Max Drawdown (3Y) Largest decline over 3 years	-67.96%	—	—
Current Drawdown Current decline from peak	-34.91%	-77.15%	+42.24%
Average Drawdown Average peak-to-trough decline	-57.75%	-68.83%	+11.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.26%	21.04%	+1.22%

Volatility

BULZ vs. SBIT - Volatility Comparison

MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) has a higher volatility of 29.07% compared to Proshares Ultrashort Bitcoin ETF (SBIT) at 22.98%. This indicates that BULZ's price experiences larger fluctuations and is considered to be riskier than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BULZ	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.07%	22.98%	+6.09%
Volatility (6M) Calculated over the trailing 6-month period	65.30%	68.89%	-3.59%
Volatility (1Y) Calculated over the trailing 1-year period	81.12%	88.51%	-7.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.70%	96.89%	-5.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.70%	96.89%	-5.19%

BULZ vs. SBIT - Expense Ratio Comparison

Both BULZ and SBIT have an expense ratio of 0.95%.

Dividends

BULZ vs. SBIT - Dividend Comparison

BULZ has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 3.97%.

Position	TTM	2025	2024
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both BULZ and SBIT in my portfolio?

BULZ and SBIT have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BULZ or SBIT?

BULZ has higher volatility (29.07%) compared to SBIT (22.98%). In terms of maximum drawdown, BULZ dropped -94.44% vs SBIT's -91.35%.

Which ETF is better, BULZ or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 98.38% for BULZ. Both ETFs have the same 0.95% expense ratio. On volatility, SBIT has been the lower-risk option at 22.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BULZ or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 98.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BULZ or SBIT?

BULZ and SBIT have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, BULZ or SBIT?

SBIT has the higher dividend yield at 3.97%, compared with 0.00% for BULZ.

What is the main difference between BULZ and SBIT?

BULZ is categorized as Leveraged Equities, while SBIT is Cryptocurrency. BULZ tracks Solactive FANG Innovation Index (300%), while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: BMO and ProShares.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.41 vs 1.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.